SG Americas Securities LLC Makes New $1.17 Million Investment in Meritage Homes Corporation (NYSE:MTH)

SG Americas Securities LLC bought a new position in shares of Meritage Homes Corporation (NYSE:MTH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,526 shares of the construction company's stock, valued at approximately $1,171,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Meritage Homes by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,074,741 shares of the construction company's stock valued at $626,777,000 after purchasing an additional 26,889 shares in the last quarter. Greenhaven Associates Inc. lifted its stake in Meritage Homes by 94.1% during the first quarter. Greenhaven Associates Inc. now owns 1,434,368 shares of the construction company's stock valued at $101,668,000 after purchasing an additional 695,355 shares during the last quarter. Norges Bank bought a new stake in Meritage Homes during the fourth quarter worth approximately $101,695,000. First Trust Advisors LP boosted its holdings in Meritage Homes by 61.6% during the fourth quarter. First Trust Advisors LP now owns 571,120 shares of the construction company's stock worth $87,850,000 after buying an additional 217,618 shares in the last quarter. Finally, Groupama Asset Managment acquired a new position in Meritage Homes in the fourth quarter worth approximately $76,910,000. 98.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meritage Homes

In other Meritage Homes news, Director Joseph Keough acquired 4,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were purchased at an average price of $66.16 per share, with a total value of $264,640.00. Following the completion of the transaction, the director now owns 41,700 shares in the company, valued at $2,758,872. The trade was a 10.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MTH shares. Wall Street Zen downgraded Meritage Homes from a "hold" rating to a "sell" rating in a research report on Monday, March 24th. Keefe, Bruyette & Woods reduced their target price on Meritage Homes from $90.00 to $77.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Seaport Res Ptn upgraded Meritage Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. UBS Group set a $107.00 price objective on Meritage Homes in a report on Friday, April 25th. Finally, Bank of America began coverage on shares of Meritage Homes in a research note on Monday, May 5th. They set a "buy" rating and a $82.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Meritage Homes presently has an average rating of "Hold" and a consensus target price of $97.72.

Meritage Homes Stock Up 2.6%

NYSE:MTH traded up $1.62 on Friday, hitting $64.06. 579,285 shares of the company's stock traded hands, compared to its average volume of 927,644. The company has a market cap of $4.60 billion, a PE ratio of 5.24 and a beta of 1.37. Meritage Homes Corporation has a 1 year low of $59.27 and a 1 year high of $106.99. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $65.99 and a 200-day moving average price of $73.70.

Meritage Homes (NYSE:MTH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.69 EPS for the quarter, missing analysts' consensus estimates of $1.71 by ($0.02). Meritage Homes had a net margin of 11.50% and a return on equity of 14.28%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted $5.06 earnings per share. The business's revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts anticipate that Meritage Homes Corporation will post 9.44 EPS for the current fiscal year.

Meritage Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.72 annualized dividend and a dividend yield of 2.68%. Meritage Homes's dividend payout ratio is 14.06%.

Meritage Homes Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.